Readout of Military Family Financial Readiness Coalition 2023 Q1 Meeting
January 26, 2023The Military Family Financial Readiness Coalition (MFFRC) continues our commitment to understanding the financial state of military and veteran families and addressing the challenges each face through the sharing of timely information and resources.
At our first meeting of 2023, MFFRC participants gathered virtually to review findings from our landscape analysis titled, “Research Review: Military and Veteran Family Financial Readiness.” This report, made possible by First Command, was administered to the 50+ organizations who participate in the coalition to collect, better understand, and support further analysis of recent research.
KEY themes:
- Promoting military financial readiness behaviors and utilization of available resources
- Credit usage and overcoming money management challenges
- Increased vulnerability of military families to malicious financial practices
These findings will be shared with policymakers, armed forces leadership, and other stakeholders who have a vested interest in military and veteran family well-being.
A Collaborative Approach
This report synthesizes over 20 studies from 8 different organizations, including Better Business Bureau, Consumer Financial Protection Bureau, Department of Defense, Federal Trade Commission, FINRA: Investor Education Foundation, First Command Financial Services, Inc., Military Family Advisory Network, and National Federation for Credit Counseling.
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